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To: Glenn D. Rudolph who wrote (23189)	10/27/1998 9:59:00 AM
From: IceShark	Read Replies (2) \| Respond to of 164685

Glenn, Why was the junk bond deal done off shore? I have never seen any other US firm do it that way. No one seems to give a reason. Well it could very well have been a timing issue in striking while the iron was hot. While it is more costly to the company and shareholders to float off shore, they may have felt, from a timing standpoint, they had to do it quick and avoid US regulation that would have slowed things down. This is the reason companies will do shelf registrations, even though they have no current need or intention to sell the securities. And you know what? They were probably right given the subsequent collapse in value of the Junks. Regards, Ice